Fannie Mae Housing Forecast for 2010

Fannie Mae's housing forecast projected New and Existing Home Sales will be UP 11% next year, with prices flat but stable nationally.

2010: Existing Home Sales Up 10%; New Home Sales Up 24%
They see Existing Home Sales UP 10% (5.46 million), and New Home Sales UP a whopping 24% (498,000) for 2010. The report unequivocally states:

It appears that the economic recovery is here.

In fact, the 23.3% boost in the annualized rate of home sales in Q3 was the largest in over twenty years. The analysis also noted that new-home inventories have dropped steadily since May 2007 and are now at their lowest levels since 1982.